Rex Africa launched an AI-powered banking platform in Nigeria on October 30. The service combines everyday financial services with Rex Atlas, an AI financial agent. It has attracted thousands of Nigerians and hundreds of businesses since launch.
What the platform offers
The platform provides savings, credit, and payment services for individuals and businesses. Individual products include RexSave, RexVault, RexFlex, and RexCard. Businesses can use RexPOS for payments and RexCredit for financing.
Licensing and deposit protection
Rex Africa operates through Rex Microfinance Bank Limited. The Central Bank of Nigeria licenses and regulates the bank. Eligible deposits are insured by the Nigeria Deposit Insurance Corporation.
How Rex Atlas works
Rex Atlas analyzes a customer's financial history. It offers guidance on saving, investing, borrowing, and managing financial risks. The assistant sits on the company's proprietary RexCore infrastructure.
Rex Africa says Nigeria is its immediate priority. The company plans to deepen digital adoption by pairing local understanding with modern technology. It also runs a lending business and a Banking-as-a-Service portal for accounts, collections, and payouts.